Zopa Says CU Interest Still High

SAN FRANCISCO ----- Zopa Ltd., the British-based online "social lending" firm, said Monday it is still soliciting U.S. credit unions and eyeing new markets in a follow-up to an initial six CUs which last week announced the start of "peer-to-peer" hookups matching borrowers and investors.

"We processed all the inquiries we could in a single day from many interested credit unions," said Wade Lagrone, vice president of marketing for Zopa's U.S. operations.

Zopa said on the first day it signed up 1,000 individuals across the U.S. of which an undisclosed number actually performed the unsecured transactions with participating CUs which agreed to sign them as members.

"Our eventual goal which may take a couple of years is to enter 50 U.S. markets," said Lagrone. So far the interest seems to be highest on the West Coast and so the hope is to interest more CUs elsewhere in the venture described as a pioneering outreach to attract more youthful CU members and demonstrate in a viral format the CU 'people helping people' mission.